Babcock International, an international defence company , agreed to acquire Naval Ship Management, a shipbuilding and repair company, from CIMIC Group, an Australian construction contractor, for A$60m. “Combined with the sale of the Eneabba project in late 2021, Sheffield has realised $36m from the sale of non-core assets, ensuring we have a strong balance sheet as we finalise the financing and proceed into the execution phase for Thunderbird,” Bruce Griffin, Sheffield Executive Chairman.